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All Eyes on the G-String Meeting


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#1 wndysrf

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Posted 15 September 2006 - 03:11 PM

Another weekend, and another grand meeting for the G-8 Finance Ministers, who will discuss the upcoming strategy to keep the markets going in the required direction for the 4th quarter.

As usual, "preparations" were made by each finance minister to muscle the tape of commodities, currencies, and stocks to show "who the boss is" to the globe.

Of course, Fukui's best interest is to smash the Yen to make his exporters more competitive than either Trichet's or Paulson's exporters.

So the Yen is smashed and now sits at 9-mo. lows.

Trichet hates gold, since he's always harping about inflation, and lately has described gold's move up as "brutal" and "unwelcome". Therefore, he smashed gold down in a clothesline move so he now has an excuse to lower interest rates, trash the Euro, so he can get his ECB exporters to outgun Fukui for business in Asia.

The undisputed leader of the pack is Mr. Paulson. Not the conductor with finesse like Mr. Greenspan. Nor the cheerleading "head coach" like Mr. Snow.

Paulson comes out of the trading pits at Goldman, where he butted heads against all the NYSE floor specialists like John Brady at Man Financial, the thick-necked ex-Purdue Boilermaker offensive guard.

Paulson knows how to do battle, and he basically barks out orders and steamrolls the market in the required direction whenever needed.

There is no competition when you have 95% Program Trading by the myriad number of Prop Desks around the globe at your back.

Of course, the key goal of everyone will be to keep the markets liquid and continuous and drive credit spreads down to zero and stocks to new highs.

Maintenance of the voracious demand for paper as evidenced by the fantastic explosion in corporate debt issuance featured almost every day in the WSJ:

Excerpts from today's paper:

Anadarko Hauls in $5.5 Billion Amid Clamor for Energy Bonds

By KELLIE GERESSY

Anadarko Petroleum Corp. sold $5.5 billion of investment-grade bonds, $500 million more than it had originally planned, as investors clamored for the offering.

Orders exceeded $16 billion, according to people familiar with the offering, which helped make the issue the third largest in the investment-grade corporate bond market this year.

Investors' seemingly insatiable appetite for corporate bonds this year, coupled with confidence in the oil-and-gas sector, also helped Anadarko secure cheaper financing than anticipated.

"We continue to be surprised at how well demand is keeping up with an absolutely torrid pace of supply," said Mitch Stapley, chief fixed-income officer at Fifth Third Asset Management.


..............................


Photo of the last G-String Meeting....

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#2 wndysrf

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Posted 15 September 2006 - 03:12 PM

The "Three Amigos"

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#3 wndysrf

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Posted 15 September 2006 - 03:16 PM

None are really paying attention to the matters at hand.

Paulson has already given Fukui and Trichet the script for next quarter.

These guys are strictly going through the motions and formalities, while looking forward to the late night massages and private escort sessions.

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#4 wndysrf

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Posted 15 September 2006 - 03:17 PM

One of Trichet's staffers looks a little disheveled after having an all-night session with a Ukranian Escort the previous evening......

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#5 mmoy

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Posted 15 September 2006 - 03:43 PM

Apach has an inverted W and is just a little above support.

Retailers all over the place today. Take a look at SPG. Just popped back near the highs again.

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#6 LeeWhee

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Posted 15 September 2006 - 04:13 PM

Not to beat a dead horse, but just looked back to see what Krammer was saying just before the May top.

Guess what? Like this week, he was pounding the table. But back then, he was touting a completely different cohort of stock sectors.

On April 20, he laid out his thesis for the market going forward. He listed 10 sectors that are 'must owns'. He said you would 'underperform' the market if you weren't significantly exposure to these sectors. He also listed his top stock(s) in each sector.

His 10 sectors: gold, minerals, aerospace, oil services, fiber to the home, railroads, coal, construction equipment, infrastructure.

In the very short-term, it looked like a prescient call. All his sectors and top plays blew off for three weeks into the May 10 high. Then they went in reverse. Since Krammer "banged the table" on Apr 20, his sectors have been the worst performing in the market. And his top picks were almost unanimously the worst-performing stocks in the worst sectors in the period following the May top: GG, BTU, CAT, UNP, CNXT, etc.

After banging the drum for months on these stocks (even telling folks to buy dips all summer in energy and coal and construction), now he has done a 180 and is telling folks that all these sectors must be sold. He is recommending retail, consumer stocks, homebubblers, etc.

Krammer has a long history of being dreadfully wrong at inflection points. As he was in Apr/May this year. Will he break the streak and be right this time? Stay tuned.

He will be telling his sheeple tonite and next week to sell energies as fast as they can because "they're going much, much lower" and move their money into retail, homebuilders and home fittings. If Sept/Oct is like Apr/May, Krammer may have a brief window where he appears like a genius. Maybe 3 weeks. Then we'll see what happens after that.

BTW, here's a list of the stocks/sectors he told his sheeple to load up on back on Apr 20:

--Gold, plain and simple. Cheapest stock is GG.
(GG was at 34, topped 3 weeks later at 41, now at 22)
--Minerals. BHP. AL. NXG.
(BHP was at 47, topped 3 weeks later at 50, now at 37)
--Aerospace/defense. BA. TXT. GD.
(BA was at 86, topped 3 weeks later at 89, now at 74)
--Oil services. SLB. HAL. NBR.
(OIH was at 162, topped 3 weeks later at 169, now 125)
--Fiber to the home. CNXT. JDSU. FNSR.
(CNXT was at 3.80, topped a week later at 3.90, now at 1.80)
--Railroads. NSX. CSX. BNI. UNP
(UNP was at 95, topped the next day at 96, now 83)
--Coal!! BTU.
(BTU was at 65, topped 3 weeks later at 76, now at 37)
--Construction equipment. CAT.
(CAT was at 78, topped 3 weeks later at 81, now at 65)
--Infrastructure. FLR. FWLT. JEC.
(FLR was at 91, topped 3 weeks later at 103, now at 77).

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"I'm not a real estate bum. I wear diamonds and Rolexes. I'm a classy Realtorô."--- Liz "Flaming Orange" Seither, Clearwater, FL, who owes lenders millions of dollars in debts.

"Men do not desire to be rich, but to be richer than other men."---John Stuart Mill (1806-1873)

"When the music stops, things will be complicated. But as long as the music is playing, you've got to get up and dance. We're still dancing..."---Citigroup CEO Chucky "Master of Timing" Prince, 7/9/07

"Wall Street is a graveyard of geniuses."---Chriss Street, Treasurer, Orange County, CA, 7/27/07

"It was never my thinking that made big money for me. It was my sitting. Men who can be both right and sit tight are uncommon. I found it one of the hardest things to learn."---Jesse Livermore

"You can kill a sheep just once, but you can fleece him 100 times."---Jeff Macke

"Stocks are no longer the weather glass of fortune, but a part of the mask employed to disguise the nation's own face to itself." ---Horace Walpole, 1782

#7 mmoy

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Posted 15 September 2006 - 04:16 PM

Has Cramer ever recommended cash?

BRK/A, INTC and AMD seem to be mis behaving after hours.

#8 wndysrf

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Posted 15 September 2006 - 04:17 PM

Drudge Headlines:


"Stock Surge: Dow Near All Time High of 11750"

"Oil Growth Demand Down in 1st Half 2006"

"Barrel Slides Towards $62"

"Gas in Missouri at $1.85"

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#9 potatohead

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Posted 15 September 2006 - 04:18 PM

one of Cramer's biggest fans

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#10 wndysrf

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Posted 15 September 2006 - 04:19 PM

Has Cramer ever recommended cash?

BRK/A, INTC and AMD seem to be mis behaving after hours.

<{POST_SNAPBACK}>



Where do you get AH quotes since Island dropped share prices from its Toplist?
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#11 potatohead

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Posted 15 September 2006 - 04:22 PM

can not forget Cramer's youngster audience. Training them well to be the next sheeple...... :rolleyes: :rolleyes: :rolleyes: :rolleyes:

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#12 mmoy

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Posted 15 September 2006 - 04:23 PM

Has Cramer ever recommended cash?

BRK/A, INTC and AMD seem to be mis behaving after hours.

<{POST_SNAPBACK}>



Where do you get AH quotes since Island dropped share prices from its Toplist?

<{POST_SNAPBACK}>


QuoteTracker streamer with Ameritrade as the quote source. I have a three-monitor
system at the office and one is dedicated to QuoteTracker.

#13 LeeWhee

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Posted 15 September 2006 - 04:31 PM

Has Cramer ever recommended cash?

BRK/A, INTC and AMD seem to be mis behaving after hours.

<{POST_SNAPBACK}>


Cash? Shirley, you jest.

Can you imagine someone on Crapvision reco'ing going to mattress stuffing? They would be fired summarily, if not executed.

BTW, there's actually a stock with the ticker CASH. It's a 14-branch bank in N Dakota and Iowa. Looks like it trades about 100 shares a day.

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"I'm not a real estate bum. I wear diamonds and Rolexes. I'm a classy Realtorô."--- Liz "Flaming Orange" Seither, Clearwater, FL, who owes lenders millions of dollars in debts.

"Men do not desire to be rich, but to be richer than other men."---John Stuart Mill (1806-1873)

"When the music stops, things will be complicated. But as long as the music is playing, you've got to get up and dance. We're still dancing..."---Citigroup CEO Chucky "Master of Timing" Prince, 7/9/07

"Wall Street is a graveyard of geniuses."---Chriss Street, Treasurer, Orange County, CA, 7/27/07

"It was never my thinking that made big money for me. It was my sitting. Men who can be both right and sit tight are uncommon. I found it one of the hardest things to learn."---Jesse Livermore

"You can kill a sheep just once, but you can fleece him 100 times."---Jeff Macke

"Stocks are no longer the weather glass of fortune, but a part of the mask employed to disguise the nation's own face to itself." ---Horace Walpole, 1782

#14 mmoy

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Posted 15 September 2006 - 04:37 PM

Someone asked about premiums on gold eagles. Last time I bought eagles, they were about $16-$18. I just called my local dealer and he's charging
$30 premium over spot in quantities of 10. Still seems better than the $44
quoted a few nights ago by Kitco. This is in NH as well so no sales tax.

#15 wndysrf

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Posted 15 September 2006 - 04:55 PM

Someone asked about premiums on gold eagles. Last time I bought eagles, they were about $16-$18. I just called my local dealer and he's charging
$30 premium over spot in quantities of 10. Still seems better than the $44
quoted a few nights ago by Kitco. This is in NH as well so no sales tax.

<{POST_SNAPBACK}>



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